Buying An Investment Condo? The Following Is A Manual!

Matters to look for in an Investment Condo

A buddy of mine called me a couple of months ago, and asked me to offer him a Market Evaluation on his investment decision condo in Singapore. He had purchased a small condominium about a year ago, and had accomplished'privately', a decision he regretted for several reasons. As we were talking about his investment condominium, my head went over the features any investor should really be on the lookout for when purchasing a condo, view source.

1 ) ) Location, Location, Loc...
You have heard this before. The top three important items in real estate are....well, you will already know. Its different when purchasing an investment condominium, or a condo for the very own personal use. Might it be easy to spend , or can the location hamper your own re-sale initiatives? If you are going to rent it out, could be the condo located near public transportation channels? May be your area safe? Many factors come in to play.

Two ) Parking
Parking, specifically at central places such as downtown, is always at a premium. If you are fortunate enough to lease out your investment condo to someone who does not generate their particular vehicle, reselling a flat without its parking spot is harder.

3) Balcony
Using a number of apartment-to-condo rate of conversion underway, it really is easy to overlook that a balcony remains one of the absolute most important features asked by buyers. Devoid of a spot to take a seat down outside, perhaps read a novel at the brand new air or toss some steak to the'que, proprietors and tenants will truly come to feel trapped inside your own condominium. Make certain that your expense condominium has a balcony or, if located around the main floor, then it even has a patio space, get more info.

4) In-Suite Laundry
Much more important with unmarried guys, but almost'vital' to female condominium potential buyers and renters. Having a protected place to do your laundry isalso, at least, a'good to have' feature.

The above 4 features are perhaps one of the most important types. Depending on your price range, you may want to consider several further:

Reward: Concrete Building
Usually a bit more expensive, but worth the purchase price. More quiet, stronger and stable, an investment condominium in Singapore with concrete flooring and walls can also make for easier resalevalue.

Bonus: Central Air
Central air conditioning and heating is yet another nice-to-have feature, making the condo more comfortable and easier to hire .

Reward: Secure Parking
Especially using all our chilly climate, having indoor or subterranean parking is an often-requested feature, albeit at a price premium

Back for my pal: His private purchase ended up being a very poor deal, as his expense condo had n one of those features. Located in a rough part of town, no parking spotwithout a balcony, no laundry and also on the next floor with no elevator will make this a very difficult saleat a hot market.